Taking a Spin With a Red-Hot Name

Earlier today, I (along with a few other contributors) wrote about large moves in high short-interest names. I included a list below of some bigger names (mid-cap or larger) with a short interest of at least 20%. As you can see, over the last quarter, this has been a disaster area if you were short. I did remove ETFs out of the list, so not all of the top 46 names are here, but 23 of the remaining 33 are in the green. In fact, there aren't even any names that are "barely" green, but almost a dozen and a half at 20% plus. It's a bit scary and quite a bit frothy as Jim Cramer mentioned last week.

20% Short Interest View Chart » View in New Window »

One of those names is Tesla (TSLA). This name has been red-hot and I could see some folks rolling the dice on some May $95-105 call spreads for just under $1.00 this week. It's tempting, bit I am going to pass. Instead, I am going to set up two positions for June, looking for the stock to trade somewhere between $90-105 or $77.50-65.00....218 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.